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Brand Extension Analysis
Behavioral Economics: Applied Frameworks
Practical toolkits like Nudge, EAST, and MINDSPACE for applying insights from behavioral economics to influence choice. ✨
Article Points:
1
People are not always rational; their choices are influenced by cognitive biases.
2
Choice architecture refers to designing the environment where decisions are made.
3
The EAST framework advises making desired behaviors Easy, Attractive, Social, and Timely.
4
A 'Nudge' is a gentle prompt to encourage a behavior without restricting choice.
5
These frameworks can be used in marketing, product design, and HR.
6
Ethical considerations are paramount; the goal should be to help, not exploit.
Source:
Behavioral Economics: Applied Frameworks
Behavioral Economics: Applied Frameworks
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Source:
Behavioral Economics: Applied Frameworks
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